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Global carbon market up 11%; carbon emissions no. 3 amongutilities' environmental concerns by grass lawn





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Global carbon market up 11%; carbon emissions no. 3 amongutilities' environmental concerns by
Article Posted: 12/20/2012
Article Views: 83
Articles Written: 975
Word Count: 373
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Global carbon market up 11%; carbon emissions no. 3 amongutilities' environmental concerns


 
Business,Business News,Business Opportunities
Carbon emissions rank third up from sixth last year amongelectric utilities top environmental concerns, according to aBlack & Veatch Corp report . For the sixth straight year, water supply issues were second onlyto carbon emissions legislation as the top environmental concern inthe industry. Black & Veatch conducted its sixth annual electric utilityindustry survey of 543 managers and engineers across the US fromFeb. 22 through March 23.

The engineering and consulting firm foundthat more than 90 percent of respondents believe that renewableswill increase prices for consumers anywhere from 5 to 30 percent,with the largest percentage (38 percent) assuming a 10 percentincrease for their customers. Additionally, 65 percent of utility respondents reported rateincreases during the past year, and 92 percent reported that thecost of regulations will cause prices to rise for consumers. Morethan 52 percent said complying with regulatory and environmentalrules reduce emissions will require them to significantly raisecustomer rates, while 40 percent expected rates to increase slightly. When it comes to viable clean energy technologies, the bigthree that electric utilities project for 2020 are natural gas(79 percent), hydroelectric (61 percent) and nuclear (52 percent),which rank above wind power (40 percent), solar energy (32percent), biomass (29 percent), coal gasification (19 percent) andtidal generation (9 percent), according to the survey. Meanwhile, the global carbon market grew 11 percent, to $176billion, in 2011, according to the World Bank s State and Trendsof the Carbon Market report.

Transaction volumes reached a new high of 10.3 billion tons ofCO2 equivalent. EU Allowances made up the largest segment of the carbon market,valued at $148 billion, the report says. Additionally, it says thevolume of secondary Kyoto offsets grew by 43 percent, to 1.8billion tons of CO2 equivalent, valued at $23 billion, fueled byincreased liquidity in the Certified Emission Reduction market andin the nascent secondary Emission Reduction Unit market. The market for voluntary carbon offsetting hit a three-year high in 2011, with transactions worth more than$576 million taking place, according to research by environmentalmarkets information service Ecosystem Marketplace published in May.

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